Currency : Rupee firms, overnight rates rise

rupee ended slightly firmer at 86.30/36 to the dollar


Reuters August 12, 2011

KARACHI: The rupee ended slightly firmer at 86.30/36 to the dollar compared with Wednesday’s close of 86.32/37, because of higher remittances. Remittances rose by 38.57 per cent to $1.1 billion in the first month of 2011/12 fiscal year, compared with $791.18 million in the same period last year, according to official data released by the State Bank of Pakistan. In the money market, overnight rates rose to 13.4 per cent compared with the previous day’s close of 10.6 per cent amid tight liquidity in the interbank market.

Published in The Express Tribune, August 12th, 2011.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read